I've done a lot of fishing , especially flyfishing, and recently trimmed my kit to fit my more minimal style these days. I use basically the same bits except alot less of it, including a much smaller fly box. I pack a small stuff sack with my small fishing kit and toss that in my pack until I want to start fishing. Then, I take my kit out of my pack and put all my fishing stuff directly into my pants/shorts pockets. Fishing this way is so much easier and more convenient that I'm surprised I didn't do it sooner. I think chest pockets, zippers and Velcro are just clever torture devices devised by outdoor companies to drive us crazy. Now I reach directly into my pocket and immediately locate exactly what I need.
Small fly box
One spool of Tippett (5x)
Tiny splitshot and indicators go into the fly box with my flies. For bubble fishing you would likely need almost the same exact kit except maybe a couple different size bubbles instead of indicators. I don't know where you fish but in the high Sierra only a basic selection of flies is required. Hare's ear, golden stone, zebra midge, for the bottom. Elk hair, hopper, and parachute adams imitate most dries. These are just standbys that come to mind which I use often, any similar patterns in sizes 16-22 will work just as well for them hungry Iil alpine fish. As for fishing somewhere in more challenging conditions, only your local fisher gurus can tell you what patterns to carry, and often it's critical that you follow their advice and learn their tricks. For instance, on the East Walker you can catch fish on anything, but it wasn't until I mastered high-sticking with a tiny hook on the bottom that I started landing very large fish in that river.
Since going more minimal, I find I enjoy fishing more because I can focus on the hunt and not on gear. Good luck!